The hidden Secrets of Senior Life Insurance : You Need to Know About

There's always a first time for everything, and acquiring senior life insurance is not exceptional. The question in today's ReiVRE: Money Talk- life Insurance is – “What are the hidden secrets of senior life insurance?”

The hidden Secrets of Senior Life Insurance

Seniors or Elderly searching for life insurance are often confounded by the array of jargons and insurance products available in the market, Whole life, Universal, Term? But, one thing is clear, however, and that is the obvious-sky high premiums.

Many seniors choose to get diluted coverage because of the premium expense, or forego life insurance completely instead of purchasing this asset, which might be extremely worthwhile for their families. The cost of providing for their loved ones is just too high to bear during retirement years.

Are there any alternatives? The answer is, unequivocally, YES! A specific new life insurance for seniors’ product has evolved over the past few years and it is called Premium Financing. It is not a new life insurance concept, but one that has come to the forefront recently.

Premium financing is where, typically, an independent institutional funder decides to pay the premium for the insured. Financing is done for a period of years, or even for life. Financing rates vary, but are typically related to the U.S. prime rate or LIBOR.

Why would the funder do this? The funder believes that they will get a better return, overall, than investing in traditional financial vehicles. They fund an enormous basket of these transactions, and know through the law of averages, that overall, their returns should yield a few hundred basis points higher than bonds. The institutional funders include Hedge Funds, Large U.S. and International Banks, Pension Funds, College Endowments, and even Insurance Companies themselves.

Why would a senior do this? The senior typically has no out of pocket expenses, or, at most, minimal cash outlay. Imagine getting millions of dollars of coverage with no cash outlay or a few thousand dollars one time total investment.

If the senior dies while the note is in force, premiums and reasonable interest are recouped by the institutional funder, and the balance is paid to the heirs. These new senior life insurance programs are set up so that the proceeds pass to the heirs both income tax free (standard with life insurance), and estate tax free. This is an awesome advantage, once only utilized by the very sophisticated and wealthy.

In some cases, depending upon the initial structure, seniors may even choose to offer the policy for sale into the burgeoning secondary market called life settlements at the end of the note term, continue financing, or even buy the policy outright if their health status has changed.

There are even revolutionary life insurance products, like immediate annuities, which can, in many cases, provide seniors an income for life with no out of pocket expense.

Today's financial markets offer a plethora of options for seniors to obtain the Life Insurance they may dearly need.
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Nb: …for more valuable information and guideline visit: Seniors life Insurance

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Do You Require Life Insurance? or Not Bothered

There's always a first time for everything, and getting life insurance is not exceptional. The question in today's ReiVRE: Money Talk- life Insurance is – “Do You Need Life Insurance?"

Do You Require Life Insurance? or You're Not Bothered

Adequate life insurance is essential to protecting your family. Permanent life insurance policies tend to be more expensive than term policies, which may not be conducive for young adults or families with income limitations. A popular use of term life insurance is most appropriate whenever you want to protect your beneficiaries from a sudden financial burden as the result of your death.

Senior settlements provide the senior citizens a way to obtain a lump sum cash amount for life insurance policies that have outlived their usefulness. This is where a life insurance policy beneficial, with your spouse as a beneficiary. By demonstrating that you have enough life insurance to cover the mortgage, there is a higher likelihood that they will approve your application, because they know there is less of a chance they'll have to go through the difficult process of handling your mortgage if you were to suddenly pass away.

Estate taxes life insurance is the least expensive method of providing cash for the payment of estate taxes. Let's say you really do decide life insurance isn't important when you reach 65. Include vested cash value of whole-life or universal life insurance policy, if any.

An ideal way to achieve the goals of investment is to buy a life insurance policy. Level term life insurance is the most popular type of life insurance policy with UK consumers, and this may be because it is also the cheapest form of insurance. There's the life insurance which thoughtful people take out to ensure that those loved one left behind will end up more prosperous with you dead then they ever were while you were alive.

Ultimately there is good news for type 2 diabetics working to acquire life insurance. Life insurance settlements sell for less the longer an individual is anticipated to live. Any decisions involving the sale of life insurance policy will have a deep emotional impact on the seller and his family members.

Employees of dangerous careers should consider purchasing much more life insurance than the average person. Common types of level term policies are: Annual (least popular) 5 year 10 year 15 year 20 year (most popular) 25 year 30 year. Many term life insurance policies are renewable, which means that you may be able to reinstate your policy after the term ends, although reinstatement may be contingent on passing a medical exam and will likely involve an increased premium.

Money lending organizations or building societies usually asks the borrower to take out a life insurance so that the repayment of the loan takes place even if he/she dies during the term. This is because the easiest way to get the cheapest life insurance quote is to exclude a number of factors from your policy.

Low cost UK whole life insurance: One of the cheapest forms of whole life cover, this type of policy features a decreasing term plan, and the policy is combined with a profits fund. Life insurance, health insurance, auto insurance, homeowner's insurance and disability insurance all protect you from life's accidents and emergencies. Life insurance could be the only means of providing income to dependent children for their own care, replacing their parent's incomes.

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-Credit to today’s guest contributor - Uchenna Ani-Okoye: an internet marketing advisor: Best Term Life Insurance.

Nb: …for more valuable information and guideline visit: cheaper life Insurance

"You are welcome to give your comment! Do you have anything you'd like to add or challenge about this hot issue? Any bad or good experience lets share. Your contribution will educate and benefit many readers".

Thank you for reading and your comments: - ranci endo

If you liked this post, please don't forget to stumble or digg it so even more people can read it and benefit!"

Selling Life Insurance Successful: The Secret by a Top Agent

There's always a first time for everything, and getting to understand the secrets of selling life insurance is not exceptional. The question in today's ReiVRE: Money Talk- life Insurance is – "What are the secrets to success in selling life insurance?"

Selling Life Insurance Successful: The Secret by a Top Agent

Most of us become licensed as insurance agents with two things in mind: we want to make money and help people too. We quickly learn the external factors needed to be successful in the sale of life insurance: the product details, presentation and closing techniques.

Most of us become licensed as insurance agents with two things in mind: we want to make money and help people too. We quickly learn the external factors needed to be successful in the sale of life insurance: the product details, presentation and closing techniques.

What is not so simple is the ability to apply the internal factors needed to be consistently successful in our life insurance sales presentations. It is this ability that will allow us to earn the kind of income and provide the kind of help that drew us to the business in the first place.

These internal factors are the human side of the service we provide our clients as insurance professionals. Essentially we must become advocates for the family because we care about what we do and we know the client cares about their family. It is important for us to help our clients deal with issues that no one else will. As insurance agents we have an important obligation to educate our clients about possible outcomes of their inevitable death and what it means to their family. Until we learn to do that, we cannot achieve high levels of production in our own business.

You have to understand that most people purchase life insurance to help their family transition financially in the event of an untimely death of a loved one. Many insurance agents focus on the external factors in the sale of life insurance previously mentioned. But to consistently succeed in the sale of life insurance you have to address the emotion that motivates people to purchase life insurance. You have to be an advocate for the family.

Advocacy is the secret to enabling your clients to see the reality of what an untimely death may mean to their family. Advocacy means having the ability to speak to your clients about what will happen to their family if or when they die. This is a subject that their own family and friends may not be comfortable speaking about. As an insurance agent you must let the client know you are going to help them identify their values to see if life insurance is important to them. You have to let the client know that it is not a matter of what you think the client needs but that it is all about what the client values for themselves and their family.

To probe for values you must ask some tough questions about the sensitive areas of how your clients feel, so that you can provide a solution. These may be questions such as:

Do you want to provide financial security for your family if you die?

What are your spouse's concerns if you die?

Do you want to provide the financial means for your family to thrive should you die?

How does that feel?

What do you see?

What kind of financial support do you want for you family in the event of your death?

Have you discussed this with your family?

This will happen sooner or later and the client's wife and children may wonder about this uncomfortable subject but never verbalize their concern. In our society, we push the unpleasant reality of death aside in many cases until it is too late. It is our purpose as insurance agents to help our clients to address the possible outcomes of their death and identify what it is they want for their family in terms of financial resources to help them during this time of transition.

As life insurance agents, we must be bold and step up to the table to help our clients deal with these issues. Our business is about life, death, family, and the home. Too often life insurance agents focus on the "selling" side of the business. They get so caught up with presentation and tactics that they turn clients off to their own problems.

People do not care how much you know until they know how much you care. As life insurance agents we already have to overcome the typical subconscious bias that our clients have of not just "sales people" but insurance agents as well. Being an advocate for them is a crucial step to overcome this bias.

Life insurance serves a great purpose in our society, by providing financial benefits to families in times of transition, enabling them to keep a roof over their head, to pay for college, to provide for basic living expenses and to essentially have peace of mind about the essentials of life. Money can never replace a lost family member, but in times where a family suffers the loss of a loved one the payout from a life insurance policy can ease the financial strain that they may suddenly find themselves in.

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-today’s guest contributor -Thomas Brown: remark - We provide sales leads to our agents. These leads are returned by a homeowner in their own handwriting.- For more information www.powerfulinsurancesales.com.

nb: ...for more valuable information and guideline visit: Life Insurance

"You are welcome to give your comment! Do you have anything you'd like to add or challenge about this hot issue? Any bad or good experience lets share. Your contribution will educate and benefit many readers".

Thank you for reading and your comments: - ranci endo

If you liked this post, please don't forget to stumble or digg it so even more people can read it and benefit!"